Throughout Gibraltar Business Capital’s 13-part video series focused on factoring, President Scott Winicour explains aspects of the factoring process. In this video installment, he discusses how factors mitigate risk by contacting customers – and Winicour also highlights how instead of simply verifying invoices, Gibraltar uses a quality assurance program as a tool for contacting customers.
“All factoring companies are taking risks by financing the receivables you’re selling to them,” Winicour says. “To get comfortable with that risk, we contact your customers. We treat your customers like you would – and we take this responsibility very seriously.” Gibraltar’s process takes it a step further than just a phone call by confirming that the quality of the product or the service delivered was to the customer’s satisfaction.
“Our quality assurance process is a significant benefit for our customers,” Winicour adds. “We not only confirm that the customer we’re calling is satisfied and likely to pay their invoice, we also field any concerns they may have and notify our clients, so they can resolve any issues and stay in good standing with the customer.”
What else should you know about factoring? Click here to watch the 13-part video series and find out the other steps Gibraltar takes to partner with businesses with its unique approach to factoring.
Want to learn more about whether factoring works for your business? Click here to contact us today and request a factoring quote.